Home Business NewsBusinessBusiness Growth News Fever-Tree half year sales jump to £117.3m

Fever-Tree half year sales jump to £117.3m

by LLB Reporter
23rd Jul 19 10:41 am

Fever-Tree the drinks mixer maker has seen their sales in the first half of the year jump by 13% to £117.3m as the company was lifted by fast growing global markets.

UK sales which account for more than half of their total business which was up by just 5% due to “unreasonably poor weather.”

However, Tim Warrillow the founder and chief executive has said despite the poor weather the business has strengthened their market position.

The business is “very well positioned” for more growth in the UK as they build on the mixer market.

In the period gross profit rose by 10% to £60m and adjusted earnings was up by 8% to £36.7m, and the company holds firm on profit outlook for the remainder of 2019.

Warrillow said, “It has been an encouraging first half for the group, with growth across all our four regions, most notably in the US, where we have made significant distribution gains and operational progress.

“While we have not been immune to the impact of the unseasonably poor weather in the UK, we have further strengthened our market leadership position within the UK and have seen positive momentum in Europe and the rest of the world, reflecting our increasingly global footprint.

“Whilst we remain mindful of the tough comparators over the remainder of the summer in the UK, the board anticipates that the outcome for the full year will be in line with its expectations.”

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